The Americans and Europeans don?ˉt constantly target the same shoppers. Most Coach bags sell for under $400. Vuitton, by contrast, last year introduced the $3,850 W and $5,350 Capucine handbag lines in an attempt to move upmarket, though it has some offerings that sell for less than $500.
With all the number of luxury consumers set to expand by Kate Spade Online 70 million to 400 million men and women by 2020, there is room for each U.S. and European brands to flourish even as middle class shoppers in lieu of the super-rich drive growth in the period, according to Bain. The key is to be clear about which consumers you?ˉre targeting, said Claudia D?ˉArpizio, a partner in the consultant.
You cannot be a brand that is selling to everyone, said D?ˉArpizio.Still, the availability of cheaper luxury goods is generating Chinese consumers far more price-sensitive, according to Avery Booker, a partner at China Luxury Advisors in New York.
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